Which of the following labor demand curves will be the least elastic?
A. The long-run demand for labor for an elastic product
B. The short-run demand for labor of a firm with L-shaped Isoquants
C. The short-run demand for labor for an inelastic product
D. The long-run demand for labor for an inelastic product
Answer: B
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If the money multiplier is approximated to be 2, then the reserve ratio must be:
A. 5 percent. B. 50 percent. C. 2 percent. D. 20 percent.
Which of the following will not cause the aggregate supply curve to fall?
a. A reduction in a nation's level of productivity. b. An increase in input prices. c. An increase in the value of the domestic currency. d. Natural disasters.
capitalism
What will be an ideal response?
Suppose that the supply curve for a good is vertical. In this case we would expect
A. a tax placed on the buyer to be borne entirely by the seller. B. nothing to be sold so no tax is collected. C. a tax placed on the buyer to be borne entirely by the buyer. D. the tax to be shared equally by both buyer and seller.